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Sidus Space closes million$$ public offering including partial exercise of over-allotment option

April 26, 2023

Sidus Space, Inc. (Nasdaq: SIDU) has closed their underwritten public offering of 34,090,904 shares of its Class A common stock, or pre-funded warrants in lieu thereof, and 34,090,904 warrants, which included the partial exercise of the underwriters’ over-allotment option.

Each share of Class A common stock and accompanying warrant was sold to the public at a combined price of $0.33. Each warrant allows the purchase of one share of Class A common stock at an exercise price of $0.33 per share.

The gross proceeds to the Company from this offering were approximately $11.2 million before deducting underwriting discounts, commissions and other offering expenses.

Sidus Space intends to use the net proceeds of the offering for sales and marketing, operational costs, product development, manufacturing expansion and the remaining proceeds for working capital and other general corporate purposes.

Boustead Securities, LLC and EF Hutton, division of Benchmark Investments, LLC, acted as the representatives of the underwriters for the offering.

Filed Under: Class A Common Stock, Over-Allotment, Public Offering

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